Societe Generale Prime Services Acquires Stake in GMEX Group
- Societe Generale becomes the second investment bank to acquire a minority holding in GMEX Group, as an investment in the exchange operator and technology provider was announced.
Following news that Global Markets Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Group International (GMEX Group) had been an acquirer of an equity stake in African ALTX, today they are the one selling a stake. Being announced in a joint public statement, Societe Generale Prime Services (formerly Newedge) has acquired a minority state in GMEX Group.
Societe Generale becomes the second investment bank to acquire a minority holding in GMEX Group following an earlier investment by Deutsche Borse Group in 2013.
An operator of exchanges supporting equities, derivatives, FX, commodities and debt trading, GMEX Group also provides technology to exchanges to assist in the operating of their businesses. With its investment, Societe Generale will be planning on providing Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and clearing services to clients trading on GMEX Group operated exchanges, including the London Derivatives, Global Derivatives, Global Commodities and Global Securities exchanges.
Hirander Misra, Chief Executive Officer and Co-Founder of GMEX Group, commented about the investment, “We welcome this investment from Societe Generale, which in conjunction with their earlier announcement to become an execution and clearing member of the GMEX exchange, emphasises the value of our proposition. We look forward to working with all our partners as we continue to position ourselves to meet the needs of the market across the investment management, banking and futures trading community.”
David Escoffier, Deputy Head of Global Markets for Societe Generale Corporate & Investment Banking and CEO at Newedge, added, “The GMEX Group offers genuinely new ways to trade Interest Rates via their unique and versatile Constant Maturity Futures product. That’s exciting for our clients as they adapt to the new environment, for our industry, and for us as part of this venture. Acquiring a minority share reflects our commitment to driving innovation in the derivative markets, and we will continue to look positively at other similar initiatives based on innovation, quality and focused on delivery value to our clients.”
Following news that Global Markets Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Group International (GMEX Group) had been an acquirer of an equity stake in African ALTX, today they are the one selling a stake. Being announced in a joint public statement, Societe Generale Prime Services (formerly Newedge) has acquired a minority state in GMEX Group.
Societe Generale becomes the second investment bank to acquire a minority holding in GMEX Group following an earlier investment by Deutsche Borse Group in 2013.
An operator of exchanges supporting equities, derivatives, FX, commodities and debt trading, GMEX Group also provides technology to exchanges to assist in the operating of their businesses. With its investment, Societe Generale will be planning on providing Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and clearing services to clients trading on GMEX Group operated exchanges, including the London Derivatives, Global Derivatives, Global Commodities and Global Securities exchanges.
Hirander Misra, Chief Executive Officer and Co-Founder of GMEX Group, commented about the investment, “We welcome this investment from Societe Generale, which in conjunction with their earlier announcement to become an execution and clearing member of the GMEX exchange, emphasises the value of our proposition. We look forward to working with all our partners as we continue to position ourselves to meet the needs of the market across the investment management, banking and futures trading community.”
David Escoffier, Deputy Head of Global Markets for Societe Generale Corporate & Investment Banking and CEO at Newedge, added, “The GMEX Group offers genuinely new ways to trade Interest Rates via their unique and versatile Constant Maturity Futures product. That’s exciting for our clients as they adapt to the new environment, for our industry, and for us as part of this venture. Acquiring a minority share reflects our commitment to driving innovation in the derivative markets, and we will continue to look positively at other similar initiatives based on innovation, quality and focused on delivery value to our clients.”